Imagine sitting around the kitchen table, trying to figure out how you're going to pay off that next-generation HDTV you just bought.

Then someone has an idea. Brush off one of the old checker pieces in the attic, assign it a value of, say, $2,000 -- and use that newly minted "coin" to pay the credit card.

Such an absurd idea is, pun intended, gaining currency as a technically legal way for Washington to avert a looming fight over the debt ceiling. A Democratic congressman, a Nobel-winning economist and several prominent writers are now floating the idea that the Treasury Department should use obscure powers to mint a $1 trillion coin if Congress does not permit an increase in the debt ceiling.

Imagine sitting around the kitchen table, trying to figure out how you're going to pay off that next-generation HDTV you just bought.

Then someone has an idea. Brush off one of the old checker pieces in the attic, assign it a value of, say, $2,000 -- and use that newly minted "coin" to pay the credit card.

Such an absurd idea is, pun intended, gaining currency as a technically legal way for Washington to avert a looming fight over the debt ceiling. A Democratic congressman, a Nobel-winning economist and several prominent writers are now floating the idea that the Treasury Department should use obscure powers to mint a $1 trillion coin if Congress does not permit an increase in the debt ceiling.

Forget the glitzy restaurants of New York and London: only in Zimbabwe would a hamburger actually cost millions of dollars.
The central bank of the southern African country has a issued a 10million Zimbabwe dollar note. The move increases the denomination of the nation's highest bank note more than tenfold.
Even so, a hamburger in an ordinary cafe in Zimbabwe costs 15 million Zimbabwe dollars.

Economist Paul Krugman called it a "gimmick," but wrote that "since the debt ceiling itself is crazy ... there's a pretty good case for using whatever gimmicks come to hand."

Such as say, preparing for a fake alien invasion from Space, Paul? That kind of gimmic.

Fucking guy is a full blown retard.

Click to expand...

I don't like Krugman's partisanship, but he's right about the craziness of a Congressional debt ceiling debate. Let's face it . . . every dollar spent in the budget comes from Congressional action--and then, they refuse to fund their spending bills? Yeah, that's crazy. It qualifies.

I personally like the coinage idea. It would satisfy existing indebtedness to ourselves--which, currently, is simply a way of extorting money from the working class and sending to the "investment" class that is taxed at lower capital gains rates.

Imagine sitting around the kitchen table, trying to figure out how you're going to pay off that next-generation HDTV you just bought.

Then someone has an idea. Brush off one of the old checker pieces in the attic, assign it a value of, say, $2,000 -- and use that newly minted "coin" to pay the credit card.

Such an absurd idea is, pun intended, gaining currency as a technically legal way for Washington to avert a looming fight over the debt ceiling. A Democratic congressman, a Nobel-winning economist and several prominent writers are now floating the idea that the Treasury Department should use obscure powers to mint a $1 trillion coin if Congress does not permit an increase in the debt ceiling.

Forget the glitzy restaurants of New York and London: only in Zimbabwe would a hamburger actually cost millions of dollars.
The central bank of the southern African country has a issued a 10million Zimbabwe dollar note. The move increases the denomination of the nation's highest bank note more than tenfold.
Even so, a hamburger in an ordinary cafe in Zimbabwe costs 15 million Zimbabwe dollars.

Click to expand...

Not the same thing. The $1 trillion coin would be one of a kind, not printed as circulating notes.

Economist Paul Krugman called it a "gimmick," but wrote that "since the debt ceiling itself is crazy ... there's a pretty good case for using whatever gimmicks come to hand."

Such as say, preparing for a fake alien invasion from Space, Paul? That kind of gimmic.

Fucking guy is a full blown retard.

Click to expand...

I don't like Krugman's partisanship, but he's right about the craziness of a Congressional debt ceiling debate. Let's face it . . . every dollar spent in the budget comes from Congressional action--and then, they refuse to fund their spending bills? Yeah, that's crazy. It qualifies.

I personally like the coinage idea. It would satisfy existing indebtedness to ourselves--which, currently, is simply a way of extorting money from the working class and sending to the "investment" class that is taxed at lower capital gains rates.

Useful Searches

About USMessageBoard.com

USMessageBoard.com was founded in 2003 with the intent of allowing all voices to be heard. With a wildly diverse community from all sides of the political spectrum, USMessageBoard.com continues to build on that tradition. We welcome everyone despite political and/or religious beliefs, and we continue to encourage the right to free speech.

Come on in and join the discussion. Thank you for stopping by USMessageBoard.com!